DESCI Sells Building and Creates Housing Subsidy Program

The Denver Educational Senior Citizens Incorporated non-profit organization was founded 50 years ago with the mission of providing safe, pleasant and affordable housing to persons age 55 and over who are Denver Public Schools employees, retirees and members of their immediate families. With the assistance of a low income housing loan from U.S. Department of Housing and Urban Development, a twelve story, 102 apartment unit building was opened for occupancy. In order to fill the building in the 1980’s when the rental market changed, the DESCI Board opened its doors to residents who had no connection to DPS. It also drifted from its targeted low income residents and admitted residents without regard to income.

In the recent past, the Board of Trustees has explored various ideas to meet the renovation challenges facing DESCI in terms of the aging facility. After much consideration and input, the Board determined that we could best meet its original mission and current financial needs by selling the building and creating a Housing Subsidy Program. To that end, the building was sold on April 9, 2013. The new owner will maintain the building as a senior building for at least ten years. All current residents will be subsidized for one year from date of sale.

The DESCI housing subsidy will be available to provide financial assistance to eligible persons in the same building. The housing subsidy program is open to low income persons 55 years of age and older who are DPS retirees, current and former employees, and members of their immediate families. Older, long term current residents will be able to apply for housing assistance. To be considered for a subsidy, current residents and future DPS people must complete the Subsidy Application and supply documents to verify eligibility. Contact information:
DESCI
c/o The Denver Foundation
55 Madison St., 8th Floor
Denver, CO 80206
Main phone for The Denver Foundation: 303-300-1790

DESCI
P.O. Box 6284
Denver, CO 80206